Cosmetic Pencil & Pen Packaging Market is Expected to Surpass US$ 3,397.8 Mn by 2028

Future Market Insights (FMI) delivers key insights on the global cosmetic pencil & pen packaging market in its published report titled “Global Cosmetic Pencil & Pen Packaging Market Forecast, Global Industry Analysis, 2012-2018, and Opportunity Assessment, 2017-2027.” In terms of revenue, the global cosmetic pencil & pen packaging market is estimated to grow at a CAGR of 6.1% during the forecast period owing to numerous factors about which FMI offers insights and forecasts in this report. The Asia Pacific cosmetic pencil & pen packaging market is expected to remain in the leading position during the forecast period.

In this report, the cosmetic pencil & pen packaging market has been segmented on the basis of material, product type, application and region. On the basis of material, the global cosmetic pencil & pen packaging market has been segmented into plastic, wood and metal. Plastic packaging is a cost-effective alternative to metal cosmetic pencil & pen packaging. Plastic components are often subject to UV coating or metallisation to impart a metal finish look, and this technique is widely used by the manufacturers of cosmetic pencil & pen packaging to attract high-end customers.

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The leading cosmetic pencil & pen packaging companies across the globe are strategically focused on the localisation of cosmetic products. Following the industry leaders, several tier-II cosmetic pencil & pen packaging companies also replicated a similar strategy to achieve success in the local market, consequently transforming the dynamics of the global cosmetic pencil & pen packaging market. Furthermore, these companies of cosmetic pencil & pen packaging also leverage the local benefits of the local market, which is largely characterised by economic production and quick integration with the existing supply chain. Multinational cosmetic pencil & pen packaging companies have outsourced their production to local and regional players, thus ensuring technical know-how and industry expertise. Over the past three years, more than ten European cosmetic pencil & pen packaging brands entered the high-potential Asian market, mostly the countries in South and Southeast Asia. The trend is likely to continue as several tier-II companies are also planning to foray into cosmetic pencil & pen packaging markets. In addition, local cosmetic pencil & pen packaging brands are challenging the global brands by selling their products at highly competitive prices, thus paving the way for way for more competition in the cosmetic pencil & pen packaging market.

The growth of the cosmetic pencil & pen packaging can be mainly attributed to the contributions of emerging economies such as countries in the APEJ region, which include India & China. China is expected to be at the forefront, spearheading the growth of the cosmetic pencil & pen packaging market during the forecast period. According to the research by Future Market Insights, the China cosmetic pencil & pen packaging market has witnessed rapid growth in the past couple of decades.

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The manufacturers of cosmetic pencil & pen packaging are likely to eye the lucrative regions of Asia Pacific as well as Middle East & African countries in the coming years. Some of the key drivers of the global cosmetic pencil & pen packaging market include the positive impact of Internet/E-commerce retailing, demand from commercial setups and the easy-to-apply nature of these cosmetics. These factors are propelling the demand for global cosmetic pencil & pen packaging. The Asia Pacific Excluding Japan (APEJ) cosmetic pencil & pen packaging market is expected to create the highest incremental $ opportunity during the forecast period.

Some of the key competitors in the global cosmetic pencil & pen packaging market include Intercos S.p.A; Swallowfield PLC; A.W. Faber-Castell Cosmetics GmbH; Schwan-STABILO Cosmetic GmbH & Co. KG; Alkos Cosmetiques SAS; Oxygen Development LLC; JOVI S.A; Confalonieri Matite S.R.L; Columbia Cosmetics Manufacturing Inc.; Quadpack Spain SL; Ningbo Beautiful Daily Cosmetic Packaging Co., Ltd.; Eugeng International Trade Co., Ltd. and The Packaging Company. These key players of cosmetic pencil & pen packaging are constantly focusing on product innovation and geographical expansions to sustain their market presence and increase revenue generation by delivering various types of cosmetic pencil & pen packaging as well as outstanding offerings to several end users.

For more insights, write in to Future Market Insights analysts at press@futuremarketinsights.com

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